Catylist ID: #30416185
7.7% Cap Double Flex Unit With Full AC For Sale!
Industrial for Sale
|Catylist Listing ID:||30416185|
|Property Subtypes:||Flex Space, Industrial-Business Park, Manufacturing, Light Industrial, Net Leased, Warehouse/Distribution|
|Building Size (RSF):||3,500 SF|
|Drive In Bays:||2 Bays|
|Property Use Type:||Net Leased Investment (NNN), Investment|
|Building Name:||Technology Park|
|Usable Size (USF):||3,500 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
Overview / Comments
Great double flex unit for sale right near to PGT!
Tenant has just signed new 2 year lease at a blended rate of $8.25 sf ($8 sf year 1 and $8.50 sf year 2) on a NNN basis from 6/1/19. Tenant has been in same location for many years. This indicates a cap rate of 7.7% on the asking price.
Blended base rent is $28,875 a year. For each unit, Taxes are $1658 (2018), condo fees are $266 monthly and liability insurance is $100 a year. These are paid by the tenant on a monthly basis. All utilities are in the tenants name.
Property is split +/- 50/50 office and warehouse with 2 bathrooms and 2 overhead doors to the rear. Multiple offices and kitchen area. Property is in good condition and the condo association is professionally managed.
|Nearest MSA:||North Port-Sarasota-Bradenton|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Total Parking Spaces:||4|
|Proximity:||3 miles||5 miles|
Ivan J GouldRE/MAX ALLIANCE GROUP
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